All Forum Posts by: Robin Vidovich

Josephine,
I am in your general area. Have been investing for a while and also wholesale.

Which pre-fore closure course are you doing? I am going to one in NJ mid July.

Welcome to the forum and you have already made the first step which is often the hardest in investing.

rdinvestors

In the state of Pa there was a law inacted Jan. 08 by the DOR that said that on all assigned contracts the wholesaler must pay transfer tax twice. Once for the buying end and once for the selling end. Now with that being said, the state has not provided clear guidelines for collection, documentation and policing of the law and it is even stated that the validity is questionable. Many title companies don't know what to do with the law and some balk with assignments.

Don't know MD's laws but perhapse something is being enacted similiarly there.

I have contacts in Baltimore. Shoot me an email at [email protected] I may be able to help you.

rdinvestors

Welcome to a great forum!

It is so nice to see that PA is really starting to represent.

Read all that you can. The first step is the hardest.

Good Luck

rdinvestors

Hey John,
Glad you could join us!!

I have been on this site for a while and you certainly are correct in the fact that it is loaded with info.

Glad to see you here.

Timing is everything. I know from other forums that you have been wholesaling for a while. Everything happens for a reason. Now must be your time to fly full time with it.

Take care and see you around!

Robin

Ralph,
Welcome! This is an awesome site for gaining information. Although In the past several years I have invested and wholesaled in the Harrisburg and Reading area, I am expanding to the Philly market.

The wholesaling is only a means for me to raise capital to do commercial deals. Feel free to shoot me an email and perhaps we could network. I have a few good network connections with people just like you who either are or want to jump into commercial.

rdinvestors
[email protected]

I always suggest a walk through before settlement. Some investors don't take the time to do it.

Yours is the classic example of why you should.

Jeremy,
Welcome!
Always excited to see new members in my area! This is a great place to start you education.

Keep us updated as to how it is going for you.

I usually put an out clause that goes like this: " Contract contigent upon buyer's contractor verifying estimate for rehab costs."

That way if my rental rates are off, this buys me time to do some due dilligence and the time for my contractor to look over the property and get me a quote.

I have only had to back out of a contract once based on the clause.

For a newbie, it may not be a bad idea to have a bit of a safety net.

You have got to bring something to the table to be considered a good risk for anyone including the banks. No assetts, no credit, no job = no loan. Plain and simple.

A second job will help with credit score and give you some levergae. You are not going to be able to do it over night but at least you have a desire. It will be work so just give up the dream if you don't want to put the work into becoming independantly successful and wealthy.